Proactive Investors - Run By Investors For Investors

South East Asia Resources to acquire lithium projects in Serbia

Serbia is the only known source of jadarite, a new lithium-borate bearing mineral.
South East Asia Resources to acquire lithium projects in Serbia
The company is raising up to $5 million

South East Asia Resources Ltd (ASX:SXI) has entered into a conditional agreement to acquire a private company engaged in lithium exploration in the Republic of Serbia.

As a result of the acquisition, the company will come to possess an exploration tenement portfolio comprising five exploration licences covering circa 329 square kilometres.

Serbia is the only current known source of jadarite, a new lithium-borate bearing mineral discovered in 2004 by Rio Tinto plc (LON:RIO).

Rio Tinto’s Jadar lithium-borate discovery, one of the largest lithium deposits in the world, has 135.7 million tonnes at 1.86% lithium and 15.4% borate.

The new exploration licences are strategically located 10 kilometres to the north and 90 kilometres southeast of Rio Tinto’s Serbian project.

South East Asia Resources is aiming to target two styles of lithium mineralisation; granite complexes with associated pegmatite and greisen mineralisation/ Jadar style sedimentary sequences.

The projects are strategically placed for European manufacturers using lithium, being just a nine hour drive from the industrial heartland of Germany.

In conjunction with the acquisition, the company will seek to raise up to $5 million at $0.02 per share.

View full SXI profile View Profile

South East Asia Resources Timeline

Related Articles

Helsinki
April 01 2019
In addition to the Mogale alloys plant, Arafak also runs the Stellite, Mecklenburg and Vlakpoort mines
Carmel Sapphire
January 29 2019
The Israel-focused exploration firm says its main strategy is to focus on exploration targets that it deems to have the highest upside that can be brought to production at relatively low cost
1534333583_Thunderstruck---Bryce-Bradley.jpg
August 15 2018
Thunderstruck has an attractive and diverse portfolio of assets in Fiji

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use